Shares extended losses on Wednesday as the state of profit-taking from the previous session still asserted and restraining indices’ development.

Shares extended losses on Wednesday as the state of profit-taking from the previous session still asserted and restrained indices’ development.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost by 0.51 per cent, to close at 1,060.44 points.

“After struggling around 1,065 points, VN-Index dropped at the end of the session and closed at 1,060.44 points, a fall of 5.47 points compared to yesterday,” said BIDV Securities Co.

“Market breadth skewed to the negative side. Regarding the transactions of foreign investors, today they were net buyers on both HoSe and HNX. In the coming sessions, VN-Index is likely to continue to experience struggling sessions in the range of 1,055-1,065 points,” it said.

The breadth of the market was negative with 141 gainers and 246 losers. The matching value on the southern bourse reached VNĐ13.3 trillion (US$567.1 million), equal to a trading volume of more than 836.8 million shares.

The VN30-Index posted a fall of 0.7 per cent, to 1,062.10 points. Of the VN30 basket, 23 out of the 30 biggest stocks in market capitalisation on HoSE inched down, while 6 ticker symbols gained and one was flat.

The VN-Index’s upward trend was restrained by the profit-taking activities of investors.

The stock groups putting the worst impact on VN-Index were banking and securities, including Techcombank (TCB), Tiên Phong Bank (TPB), Sacombank (STB), VPBank (VPB), Military Bank (MBB), VNDirect Securities Corporation (VND), Saigon-Hanoi Securities JSC (SHS), Việt Capital Incorporation (VCI), Agribank Securities Corporation (AGR), APG Securities Joint Stock Company (APG).

Oil and gas stocks also performed poorly such as Việt Nam National Petroleum Group (PLX), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD) and Drilling Mud Joint Stock Corporation (PVC).

The HNX-Index on the Hà Nội Stock Exchange (HNX) ended the trading day at 212.86 points, a drop of 0.82 per cent.

Foreign investors net bought VNĐ102.76 billion on HOSE, including Hoà Phát Group (HPG) with VNĐ215.43 billion, Vinhomes (VHM) with VNĐ74.53 billion, PVPower (POW) with VNĐ34.29 billion. They were net buyers on HNX with the value of VNĐ13.6 billion.

Viet Nam News